Lloyd’s to launch new cyber risk code for 2015 With the introduction of a new set of cyber risk codes and the benefit of a re-run cyber-scenario data-collection exercise, Lloyd’s has big plans for its cyber segment as of 1 January 2015. Lloyd’s performance management director, Tom Bolt, said companies must look to inspire innovation in the fast-growing cyber class of business and warned that that exposure and accumulation must be properly managed. Bolt lauded cyber classes as an area where the Lloyd’s market was showing real strength and innovation.
Airbnb expands liability product
Airbnb, a website for people to rent out lodging, has launched a new programme that will give US hosts up to US$1 million in liability cover in case of guests sustaining serious injury within the host’s property. While a US$1 million host guarantee already exists, this product will protect both host and guest. The new policy aims to help improve expressed concerns of the safety of hosting short-term guests and is ‘actively working on ways to expand it internationally’. Obama admin caught out over healthcare numbers Obama administration of intentionally trying to botch numbers in order to make the health rollout seem more successful than it actually was. This was after the government reform committee revealed that the number of people that have signed up for healthcare under the Affordable Care Act (ACA) has been overestimated by 400 000. “The mistake we made is unacceptable,” said health and human services secretary, Sylvia Burwell on Twitter. Spokesman for the Obama administration, Aaron Albright, said, “Those consumers have separate dental coverage in addition to a medical plan, and were doublecounted by mistake.”